It is desirable to provide a pressure reducing and flow velocity reducing passageway in a well tool for oil and/or gas wells. For example, in the above-described patent application a labyrinth passageway is provided in the equalizing line of a well subsurface safety valve for creating controlled pressure drops along the equalizing line to reduce the pressure and flow velocity for minimizing flow cutting and erosion of fluids flowing through the equalizing line. However, in oil and gas wells, various conditions may exist such as sand in the well production, or different viscosities of well production which would require variations in the size of the flow passageway. The present invention is directed to a well tool having a flow passageway which is variable and can be set to accommodate various well conditions thereby avoiding manufacturing of different well tools with different size flow passageways.